The Business Research Company’s Artificial Intelligence In HR Global Market Report 2023 is the most detailed report available on the market, including broad forecast periods and multiple geographies. The report covers the historic period – 2010-2021, and the forecast period – 2023-2032. The Artificial Intelligence In HR Global Market Report 2023 evaluates artificial intelligence in hr market size, growth rate, drivers, trends, and major companies.

The report provides a global perspective by covering 60 geographies and focusing on major economies in each region – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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The global artificial intelligence in HR market is poised for significant expansion, with a projected increase from $4.50 billion in 2022 to $5.28 billion in 2023. This robust growth is underpinned by a compound annual growth rate (CAGR) of 17.3%. However, the market's trajectory is intertwined with the complex global landscape. The Russia-Ukraine conflict has cast a shadow over the world's efforts to rebound from the ravages of the COVID-19 pandemic.

The ongoing war has triggered far-reaching consequences, including economic sanctions that have been imposed on several nations. These sanctions, combined with disruptions in the supply chain and escalating commodity prices, have led to inflationary pressures across the spectrum of goods and services. Additionally, these economic upheavals have prompted central banks to raise interest rates, affecting various markets worldwide. Despite these challenges, the artificial intelligence in HR market is anticipated to attain a value of $9.80 billion by 2027, driven by a robust CAGR of 16.7%.

The pivotal force behind this growth is the escalating demand for automation in HR operations. Automation in HR operations refers to the strategic deployment of technology, encompassing sophisticated software and systems, to streamline and mechanize administrative tasks within the human resources domain. AI emerges as a potent catalyst in this endeavor, enhancing HR processes by automating critical facets such as candidate screening, recruitment, data entry, workflow management, and data processing.

For instance, consider the case of SHRM (Society for Human Resource Management), a prestigious American professional organization dedicated to human resources. In February 2022, SHRM conducted a comprehensive survey among 1,688 HR professionals to gauge the adoption of automation and AI in HR practices. The results were illuminating: 16% of corporations were already leveraging automation or AI, and a staggering 85% of these pioneering employers attested to the time-saving and efficiency-boosting benefits of such automation. Furthermore, the survey revealed that 1 in 5 organizations are gearing up to initiate or expand the use of these transformative tools for performance management over the next five years, while 1 in 4 organizations have ambitions to integrate automation or AI into their recruitment and hiring processes during the same period.

Hence, the rising demand for automation within HR operations serves as a compelling force propelling the growth of artificial intelligence in the HR market. This paradigm shift towards automation not only enhances the efficiency and efficacy of HR functions but also underscores the pivotal role of AI in shaping the future of human resources management.

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The artificial intelligence in hr market segments in the report are:
1) By ffering: Hardware, Software, Services
2) By Technology: Virtual Assistants, Metaverse, AI Chatbot, People Analytics, Machine Learning, Computer Vision, Natural Language Processing, Other Technologies
3) By Enterprise Size: Small And Medium Enterprises, Large Enterprises
4) By Application: Workforce Management, Talent Management, Payroll Management, Performance Management, Recruitment, Hiring, Other Applications
5) By Industry: Academic, Banking, Financial Services and Insurance (BFSI), Government, Healthcare, Information Technology(IT) And Telecom, Manufacturing, Retail, Other Industries

The table of contents in TBRC’s artificial intelligence in hr market report includes:

1. Executive Summary
2. Artificial Intelligence in HR Market Characteristics
3. Artificial Intelligence in HR Market Trends And Strategies
4. Artificial Intelligence in HR Market - Macro Economic Scenario
5. Global Artificial Intelligence in HR Market Drivers and Restraints

....

32. Global Artificial Intelligence in HR Market Competitive Benchmarking
33. Global Artificial Intelligence in HR Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Artificial Intelligence in HR Market
35. Artificial Intelligence in HR Market Future Outlook and Potential Analysis
36. Appendix

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